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30. A corporation's budgeted sales revenue for the first quarter is presented below: January February March Credit Sales $120,000 $130,000 $140,000 Cash Sales $10,000 $20,000
30. A corporation's budgeted sales revenue for the first quarter is presented below: January February March Credit Sales $120,000 $130,000 $140,000 Cash Sales $10,000 $20,000 $ 30,000 Management estimates that 5% of the credit sales are uncollectible. Of the collectible credit sales, it is estimated that 60% will be collected in the month of sale, 35% the month following the sale, and 5% two months following the sale. What is the total cash to be collected from sales in March
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